When an Asset Is Shown on the Financial Report Other

question 36

Multiple Choice

When an asset is shown on the financial report other than at cost, which of the following is not required to be disclosed?

• A) the evidence gathered to support the valuation.
• B) the year and basis of valuation.
• C) whether it is an internal or independent valuation.
• D) the name of the valuer.

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Definitions:

Spontaneous Recovery

The reappearance of a previously extinguished response after a period of time without exposure to the conditioned stimulus.

Extinction

In psychology, the process through which a conditioned response decreases in frequency and eventually disappears as a result of the withdrawal of reinforcement.

Contingency

The relationship between two events, one being contingent or a consequence of the other's occurrence.

Contiguity

The principle stating that events occurring close together in time or space are readily associated with each other.